Bishkek (AKIpress) - South Korea's President Park Geun-hye, has announced a committee to prepare for reunification with North Korea. President Park said unifying with the north would be an economic bonanza, but analysts say the south would face a heavy financial and legal burden, reported the Voice of America.

President Park announced the plans to create a blue print for reuniting South Korea with the North on Tuesday.

In a televised speech marking her first year in office, Park said she would form a preparatory committee directly under the presidential office. She said the committee will expand dialogue and private exchanges with Pyongyang.

She also said the committee will allow all levels of society to participate, including experts in diplomacy, security, economics, sociology and culture, and private organizations. In this way, she said, they will create a national discussion on reunification and make a concrete blueprint of a 'unified Korean peninsula'.

The two Koreas have remained divided since World War II separated them into a Soviet-influenced North and an U.S.-influenced South.